March 16, 2020
Dear Clients, Shareholders and Colleagues,
During these challenging times, our thoughts are with everyone dealing with the uncertainty resulting from the impacts of COVID-19.
You have co-invested with us because you share our belief in the investment merits of gold and related assets. We believe these assets will ultimately benefit from the current global reset and prove to protect clients’ wealth, as they have over the centuries. The team at Sprott is prepared for the current market turmoil and we are ready to help guide our clients through these uncertain times.
As events unfold, it is vital that we communicate what Sprott is doing as we navigate this uncertainty:
Our first priority is the health and safety of our employees and clients. For this reason, we have provided all employees with work from home capabilities, in-person client meetings are prohibited until further notice, and all business travel has been postponed indefinitely.
Sprott has implemented our Business Continuity Plan which is designed to allow our people, processes and technology to operate effectively in extraordinary circumstances (including global pandemics). Sprott has a strong balance sheet and the resources necessary to endure periods of market stress. We have ample access to capital and lines of credit which can be drawn down as necessary.
Sprott’s portfolio managers, investment team, and brokerage staff are fully operational and focused on managing client portfolios. Our systems are fully functional and we are working collaboratively to deliver the best outcome for our clients.
The Sprott platform was built with the belief that eventually, an event or events would occur that would negatively impact the broader financial markets. With more than 90% of Sprott’s Assets Under Management (“AUM”) concentrated in precious metals and precious metals-related investments, we believe we are well-positioned to protect our clients’ wealth. It is important to note that in previous crises, while precious metals prices have come under short-term pressure, they have rebounded quickly and investors have been rewarded for staying the course. We believe this will also prove to be true in the current market environment.
With the situation evolving rapidly, we believe it is essential to remain in regular communication with our clients and shareholders. Our client service and investor relations teams are available to answer questions and address client and shareholder concerns. Our investment professionals will continue to provide timely market commentary and investment advice to our clients and shareholders.
We hope that you and your family stay healthy and safe. We remain committed to our employees and clients throughout this challenging period. We have weathered many such periods in the past, and we are confident that our depth of experience and dedication will see us through. We are committed more than ever to being Contrarian, Innovative and Aligned.
For more information, please contact us at the telephone numbers/email addresses below.
Chief Executive Officer,
Client Services Contact Information
Investor Contact Information
Managing Director, Investor Relations & Corporate Communications
Media Contact Information
Dan Gagnier/Jeff Mathews
Certain statements above contain forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify such statements. Although the Company believes that such statements are reasonable, they are not guarantees of future results, performance or achievements.
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